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New insurance scheme for Abhaya Hastham beneficiaries

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Hyderabad: In a move that would benefit about 78 lakh people in the State, the State government is considering introducing a new insurance scheme to provide better insurance cover to beneficiaries of Abhaya Hastham scheme comprising Self-Help Groups and their families.

While modalities of the scheme are being finalised, the new insurance scheme to be introduced soon will cover all the existing beneficiaries under Abhaya Hastham, a co-contributory pension scheme, introduced in 2009 by the Congress government.

Announcing this, Panchayat Raj and Rural Development Minister Jupally Krishna Rao told reporters here on Wednesday that the State government will pay the premium on behalf of beneficiaries for the new insurance scheme.

The compensation for natural death will be increased from existing Rs 30,000 to Rs 75,000, while a compensation of Rs 4 lakh will be paid to the bereaved family members of the beneficiary in case of accidental death in place of the existing Rs 75,000.

Elaborating on the distribution of social security pensions in the State, the Minister said the State government was spending Rs 5,301.83 crore per annum to provide social security pensions to about 39.77 lakh people in the State.

“The previous Congress government spent Rs 835.64 crore per annum to provide social security pensions to about 29.21 lakh. But after conducting the integrated household survey, the Telangana government has increased the number of beneficiaries to 39.77 lakh.

Similarly, pension amount was hiked from Rs 200 to Rs 1,000 (old age, widows, weavers, beedi workers, etc) and from Rs 500 to Rs 1,500 for differently-abled,” he pointed out.

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